L'Oréal - 2018 Registration Document

4 2018 Consolidated Financial Statements NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The variations during 2018, 2017 and 2016 are set out below:

Present value of defined benefit obligation

Plan assets Net provisions

€ millions

Balance at 31 December 2015

4,254.7

-3,447.5

807.2 173.4 128.5 -108.2

Service cost Interest cost

173.4 128.5

- -

Expected return on plan assets

-

-108.2

Past service cost: new plans / plan amendments

2.8

- - -

2.8

Curtailments Settlements Benefits paid

-20.5

-20.5

-

-

-187.5

125.4 -234.1 -125.2

-62.1

Contributions paid

6.4

-227.7

Actuarial gains and losses Translation differences

126.5 -41.3

1.3

58.0 -33.4

16.7

Other movements (1)

33.8

0.4

Balance at 31 December 2016

4,476.8

-3,765.1

711.8 170.2 105.0 -88.6

Service cost Interest cost

170.2 105.0

- -

Expected return on assets

-

-88.6

Past service cost: new plans / plan amendments

2.2

- -

2.2

Curtailments Settlements Benefits paid

-20.8 -94.8

-20.8

96.1

1.3

-192.6

131.1 -210.1 -242.1 153.8

-61.5

Contributions paid

6.6

-203.5 -280.0

Actuarial gains and losses Translation differences

-37.9

-187.8

-34.0

Other movements

-5.1

5.0

-0.2

Balance at 31 December 2017

4,221.7

-3,919.8

301.9 168.0 96.6 -88.7

Service cost Interest cost

168.0

- -

96.6

Expected return on assets

-

-88.7

Past service cost: new plans / plan amendments

2.2

- -

2.2

Curtailments Settlements Benefits paid

-24.4

-24.4

-1.5

1.3

-0.2

-189.3

138.5 -85.8 230.5 -36.9

-50.7 -80.8 58.5

Contributions paid

5.1

Actuarial gains and losses Translation differences

-172.1

43.1 -5.2

6.2 0.2

Other movements

5.4

BALANCE AT 31 DECEMBER 2018 388.9 Including in 2016, an amendment to a pension plan in Germany (change from a defined contribution plan to a defined benefit plan) for €40.5 million following the decrease in (1) interest rates. 4,144.4 -3,755.5

The total present value of defined benefit obligations breaks down as follows between wholly or partly funded plans and wholly unfunded plans:

31.12.2018

31.12.2017 31.12.2016

€ millions

Present value of defined benefit obligations wholly or partly funded

3,755.6 3,755.5

3,843.2 3,919.8

4,049.3 3,765.1

Fair value of plan assets

Net position of defined benefit obligations wholly or partly funded Present value of defined benefit obligations wholly unfunded

0.1

-76.6 378.5

284.2 427.5

388.8

REGISTRATION DOCUMENT / L'ORÉAL 2018

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